Reported 12 months ago
FTNN News Network, July 3, 2024, 11:00 AM: Concerns arise over a potential subprime crisis caused by the 'New Qing-An' preferential loan policy, with criticism of speculative behavior. Ko Wen-je, leader of the People's Party, calculates that buyers may max out the loan limit of 10 million NT dollars, making it the 'floor price' of the housing market including down payment. Ko proposes building social housing, raising taxes on multiple houses, implementing vacant property taxes, and providing rent subsidies to eliminate the black market for rental properties to achieve housing justice. He warns of a potential subprime crisis if the logic of continuous house price growth is not maintained post-grace period of the loan. According to the Sinyi Price Index, after the New Qing-An policy took effect last August, housing prices have surged, which Ko believes has not eased the purchase pressure on young people.
Source: YAHOO